Inducing protein degradation using hydrophobic tags is a strategy that has recently received active attention from the scientific community. For example, Crews and coworkers discovered that covalent attachment of a hydrophobic tag to a dehalogenase fusion protein is effective in modulating the level of the transgenic fusion protein. See, e.g., Neklesa et al., Nature Chemical Biology (2011) 7:538-543. Hydrophobic tags used to induce protein degradation may eventually be found useful in a variety of applications, such as, for example, tagged therapeutic agents and tagged research tools for inducing protein degradatation in vivo and in vitro. However, the development of such hydrophobically tagged agents and tools is underrealized and continues to remain of great interest.